Avior Wealth Management LLC Sells 89 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Avior Wealth Management LLC trimmed its stake in Illinois Tool Works Inc. (NYSE:ITW) by 3.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,489 shares of the industrial products company’s stock after selling 89 shares during the period. Avior Wealth Management LLC’s holdings in Illinois Tool Works were worth $631,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pensionfund Sabic lifted its stake in Illinois Tool Works by 37.0% during the fourth quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock worth $1,876,000 after purchasing an additional 2,000 shares during the period. Franklin Resources Inc. boosted its stake in Illinois Tool Works by 41.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after buying an additional 398,676 shares in the last quarter. Clark & Stuart Inc bought a new stake in Illinois Tool Works in the fourth quarter valued at $1,729,000. Czech National Bank lifted its holdings in shares of Illinois Tool Works by 5.9% during the fourth quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock valued at $14,774,000 after acquiring an additional 3,227 shares during the period. Finally, Wolverine Asset Management LLC acquired a new stake in shares of Illinois Tool Works in the 3rd quarter valued at $1,179,000. 79.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Truist Financial boosted their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday. Robert W. Baird increased their target price on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Jefferies Financial Group upped their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Finally, Citigroup dropped their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $269.89.

Illinois Tool Works Stock Down 0.0 %

Illinois Tool Works stock opened at $259.83 on Friday. The company has a 50 day moving average of $263.01 and a 200-day moving average of $256.30. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The stock has a market capitalization of $76.73 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 3.60 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.12. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the business posted $2.55 EPS. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Company Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.